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Last Updated : Nov 19, 2019 10:16 AM IST | Source: Moneycontrol.com

Gold prices are expected to trade higher today: Angel Broking

According to Angel Broking, On Monday, spot gold prices higher by 0.25 percent to close at $1470.8 per ounce. Uncertainties revolving around the prolonged trade spat weighed on the market sentiments and boosted the demand for the safe haven asset.


Angel Broking's report on Gold


On Monday, spot gold prices higher by 0.25 percent to close at $1470.8 per ounce. Uncertainties revolving around the prolonged trade spat weighed on the market sentiments and boosted the demand for the safe haven asset. President Donald Trump reluctant to roll back the tariffs levied on the Chinese goods further raised tension around the prolonged trade war in turn denting the risk appetite amongst investors. President Donald Trump and U.S. FED Chair Jerome Powell met on Monday to discuss the economy situation. Markets will also have a keen watch on the U.S. Federal Reserve’s minutes from their latest meeting for cues on their further stance.


Outlook


Fading optimism over a possible trade deal between U.S. & China might boost the demand for Gold and push the prices higher. On the MCX, gold prices are expected to trade higher today; international markets are trading lower by 0.12 percent at $1470.1 per ounce.


For all commodities report, click here


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First Published on Nov 19, 2019 10:16 am
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